Poston Products, Inc., produces a chemical product that passes through three departments. For May, the following equivalent-unit schedule was prepared for the first department: LO3 

Materials Conversion Cost Units completed 5,000 5,000 Units in ending work in process < Fraction complete:

6,000 X 100% 6,000 —

6,000 < 50% — 3,000 Equivalent units of output 11,000 8,000 Costs assigned to beginning work in process were materials, $30,000; conversion,

$5,000. Manufacturing costs incurred during May were materials, $25,000; conversion, $65,000. Poston Products uses the weighted average method.

Required:

1. Compute the unit cost for May.

2. Determine the cost of ending work in process and the cost of goods transferred out.